Slowly, but surely...like the tortoise in the tortoise vs hare story.
Banked on this opportunity and the recent announcement from EIA, which is the US' Energy Information Administration - who said crude oil stocks in US declined by 4.5mio barrels for week ending Aug 7th - in comparison to analysts estimate for a draw of 3.2mio barrels. This pushed the WTI upwards.
Next up to watch are China's Industrial Production and Retails Sales data, second quarter GDP from Euro, Retail Sales and Industrial Production data from the US and the Baker Hughes Energy Services' US Oil Rig Count.
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